Project 1 Services Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 06724634 (England and Wales)

Project 1 Services Limited

Abbreviated Accounts For The Year Ended 31 October 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Report of the Accountants

6

DIRECTOR:

D Brown

SECRETARY:

REGISTERED OFFICE:

8 Home Road

Kempston

Bedfordshire

MK43 9BL

REGISTERED NUMBER:

06724634 (England and Wales)

ACCOUNTANTS:

Premier Accountancy

The Straw Barn

Upton End Business Park

Meppershall Road

Shillington

Bedfordshire

SG5 3PF

FIXED ASSETS

Intangible assets

2

2,588

3,882

Tangible assets

3

10,969

14,393

13,557

18,275

CURRENT ASSETS

Stocks

51,222

Debtors

183,244

51,525

Cash at bank and in hand

97,590

36,094

332,056

138,841

CREDITORS

Amounts falling due within one year

310,726

139,489

NET CURRENT ASSETS/(LIABILITIES)

21,330

(648

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

34,887

17,627

CREDITORS

Amounts falling due after more than one
year

-

3,243

NET ASSETS

34,887

14,384

CAPITAL AND RESERVES

Called up share capital

4

1

Profit and loss account

34,886

14,383

SHAREHOLDERS' FUNDS

34,887

14,384

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2016 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 28 July 2017 and were signed by:

D Brown - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents net invoiced sales of goods, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 0, is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on cost

Stocks

Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance

for obsolete and slow moving items.

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to the profit and loss account in the period to which they relate.

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

and 31 October 2016

12,942

AMORTISATION

At 1 November 2015

9,060

Amortisation for year

1,294

At 31 October 2016

10,354

NET BOOK VALUE

At 31 October 2016

2,588

At 31 October 2015

3,882

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 November 2015

67,144

Additions

6,139

At 31 October 2016

73,283

DEPRECIATION

At 1 November 2015

52,751

Charge for year

9,563

At 31 October 2016

62,314

NET BOOK VALUE

At 31 October 2016

10,969

At 31 October 2015

14,393

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

1

Ordinary

£1

1

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five)

have been prepared.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 October 2016 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Premier Accountancy

The Straw Barn

Upton End Business Park

Meppershall Road

Shillington

Bedfordshire

SG5 3PF

28 July 2017